The vertical distance between the average total cost and the average variable cost curves at any level of output will always be
A) variable cost.
B) average fixed cost.
C) fixed cost less variable cost.
D) total cost less fixed cost.
Correct Answer:
Verified
Q30: The AFC curve
A)always slopes downward.
B)is U-shaped.
C)is a
Q31: The MC curve slopes upward due to
A)increasing
Q32: If the total variable cost curve is
Q33: Marginal cost is defined as
A)the rate at
Q34: In order to divide a given production
Q36: Markets characterized by declining long-run average costs
Q37: ATC equals
A)AVC - AFC.
B)FC/Q.
C)(TFC + TVC)/Q.
D)MC +
Q38: At one unit of output AVC is
A)zero.
B)infinite.
C)equal
Q39: Say at the current output level marginal
Q40: When marginal cost is less than average
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